Technical Analysis: S&P Returns to Resistance

For the first time in two weeks, the indexes have put together back-to-back days in the same direction; what a volatile couple of weeks it’s been. The S&P (first chart below) returned to the critical resistance level of 1164 today, and just above that is the index’s main downtrend line at about 1168 for tomorrow; if the index can clear both those levels, the trend may be turning up. Support is 1155 and 1152, with 1136-1140 below that. The Nasdaq (second chart) has support at 1923, 1916 and 1910, and 1935 is a big resistance level. The Dow (third chart) faces resistance at 10,263, 10,300 and 10,350-10,375, and support is 10,188-10,200.

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